Reinsurance News

Lloyd’s launches resilience platform for systemic risks

8th February 2021 - Author: Matt Sheehan

Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of Futureset, a new platform and community designed to drive greater societal and economic resilience to some of the largest and most complex global risks.

lloyd'sThe platform will bring together different perspectives and foster cross-country dialogue to help communities, businesses and governments prepare for systemic risks.

Throughout 2021, Futureset will focus on exploring lessons learned from the COVID-19 pandemic, as well as examining the growing threat of climate change.

It launches with a six-part Systemic Risk Masterclass series, developed in partnership with the Chartered Insurance Institute (CII) and Lloyd’s Market Association (LMA).

The series will bring togther experts across industry, academia and government to help re/insurers and risk professionals develop their knowledge of systemic risk.

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“The COVID-19 pandemic has shown that a hypothetical systemic risk, is never far from becoming a reality and that we must do everything we can to prepare and mitigate against the worst impacts of the constantly changing and challenging risk landscape,” said John Neal, CEO of Lloyd’s.

“As the world turns to recovery, Lloyd’s has a unique position and opportunity to bring together communities, businesses, insurers and governments to find solutions to those risks that threaten our shared future,” Neal added. “The launch of Futureset sets in concrete our commitment to be a catalyst for action, and in doing so empowering innovation, economic growth and human progress around the world.”

The first Futureset Masterclass will take place on 10 February, when Neal will lead an interactive panel discussion focused on how governments and the re/insurance industry can partner more effectively to protect society and the economy against systemic risks.

Panellists include John Doyle, President and CEO of Marsh, Paula Jarzabkowski, Professor of Strategic Management at the University of London’s Business School, and Patrick Sterling, RIMS Vice President & Senior Director of Legendary People and Risk at Texas Roadhouse.

And later this month Lloyd’s will launch a video-series that brings together industry leaders from a variety of sectors, including Robert Hannigan, a cyber security expert and former director of GCHQ, and Ann Pettifor, political economist and author of ‘The Case for the Green New Deal.’

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